KnightSwap Lending Network Live on BNB Chain
In the latest of Ola’s partnerships, KnightSwap — a popular DEX and DeFi platform — launched their new lending network on BNB Chain (formerly known as Binance Smart Chain). The KnightSwap lending network is the newest addition to their DeFi product suite and will enable lending and borrowing capabilities for a variety of assets in the Knight ecosystem.
Meet KnightSwap
As one of the leading DEXs on BNB Chain, KnightSwap boasts a TVL of $382.5M across all pools and farms, as well as numerous project partnerships. Through these connections, KnightSwap offers unique features such as an ICO platform (called IWO — Initial Wizard Offering) and an NFT marketplace. The KnightSwap Lending Network is one of many pieces in the Knight Ecosystem and is supported by Wolf Den — their partnering crypto community designed and dedicated to teaching people how to think about generating wealth.
KnightSwap Lending Network
The lending network currently supports lending and borrowing for ETH, BTCB, BNB, BUSD, USDC, and USDT, while their project-native tokens KNIGHT and GUARD can be collateralized but not borrowed. The following parameters have been set for the initial launch:
New tokens can be added at any time according to KnightSwap’s governance procedure.
BNB Chain
Binance Chain and Binance Smart Chain have formed together as BNB Chain since February 15, 2022. BNB stands for “Build and Build”, and the BNB token is used for fueling transactions (similar to gas on Ethereum) in addition to serving as a governance token. Upon writing, BNB Chain has $11.6B of value locked in its DeFi ecosystem and 277,000 daily active users.
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